Robinhood Markets (NASDAQ:HOOD) Stock Price Expected to Rise, KeyCorp Analyst Says

Robinhood Markets (NASDAQ:HOOD) had its price target hoisted by investment analysts at KeyCorp from $57.00 to $75.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price target would indicate a potential upside of 14.89% from the stock’s previous close.

Several other equities analysts also recently weighed in on the stock. Piper Sandler lifted their target price on shares of Robinhood Markets from $36.00 to $42.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and raised their price objective for the company from $40.00 to $46.00 in a research report on Friday, December 6th. Keefe, Bruyette & Woods raised their price objective on shares of Robinhood Markets from $24.00 to $38.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Morgan Stanley raised their price objective on shares of Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $58.07.

Robinhood Markets Stock Up 2.3 %

HOOD opened at $65.28 on Thursday. The company has a market capitalization of $57.71 billion, a price-to-earnings ratio of 110.65, a PEG ratio of 0.73 and a beta of 2.13. The firm has a 50-day moving average price of $45.45 and a 200-day moving average price of $32.43. Robinhood Markets has a twelve month low of $13.04 and a twelve month high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. On average, sell-side analysts expect that Robinhood Markets will post 0.97 earnings per share for the current fiscal year.

Insider Transactions at Robinhood Markets

In other news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $37.92, for a total value of $222,817.92. Following the completion of the sale, the chief technology officer now directly owns 11,752 shares in the company, valued at approximately $445,635.84. The trade was a 33.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Meyer Malka sold 1,535,681 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total transaction of $61,596,164.91. Following the completion of the sale, the director now owns 4,974,238 shares of the company’s stock, valued at approximately $199,516,686.18. The trade was a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,948,427 shares of company stock worth $165,005,244. 19.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. FMR LLC increased its stake in shares of Robinhood Markets by 184.8% in the fourth quarter. FMR LLC now owns 40,237,478 shares of the company’s stock worth $1,499,248,000 after buying an additional 26,107,934 shares during the period. State Street Corp increased its stake in shares of Robinhood Markets by 8.7% in the third quarter. State Street Corp now owns 13,558,321 shares of the company’s stock worth $317,536,000 after buying an additional 1,085,679 shares during the period. Geode Capital Management LLC increased its stake in shares of Robinhood Markets by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company’s stock worth $455,464,000 after buying an additional 555,299 shares during the period. Renaissance Technologies LLC increased its stake in shares of Robinhood Markets by 34.4% in the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company’s stock worth $450,031,000 after buying an additional 3,091,514 shares during the period. Finally, Norges Bank purchased a new position in shares of Robinhood Markets in the fourth quarter worth $329,598,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

About Robinhood Markets

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.